iCharts Discussions

shashangan · Posted: Mon Nov 05, 2012 9:22 pm Post subject:

Thanks Vinst

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

shashangan · Posted: Tue Nov 06, 2012 2:14 pm Post subject:

Mkt as I suspected has been in range.

Nov Nifty 5750 (near now) or 5730 is intra day break out level for now. If either breaks strongly, mkt will head that direction to close. Overall trend is intact bullish according to me. If up 5773-77 area target. There is no clear intra day direction though. Let's see.

Thanks
Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

shashangan · Posted: Tue Nov 06, 2012 6:24 pm Post subject:

Thanks Acharyams.

Mkt looks quite strong with the close, so it can immediately try a new high of min 5782 at open tomorrow.

The possible targets for Nov Nifty is 5810 & around 5835-45 & 5865-70.

Though trend is strong & bullish & can extend this move to 5865+, I caution Longs to be careful as it nears previous high of 5842 in advance.

There can be a trap reversal, I suspect & expect a strong huge correction soon. I could be wrong, The correction is most likely next week, but dont keep multiple longs above 5835. I know many short term players will not even be thinking of a bear trend now. But The Sharks will come in anywhere to gobble the stops by sudden high volume selling.

I am not giving any hope for people who are already short. My view may help you plan your trade & is only a reminder to stay cautious to avoid getting trapped. Shall keep you posted.

Let's see tomorrow
Good luck
Gautham Shashangan

umesh1 · Brown Belt Joined: 24 Nov 2008 Posts: 1974

Shashangan
Appreciate your views and alerts ,please update as nifty moves ,I am waiting and prepared for the bollinger to blow up either side this month
Cheers

saumya12 · Brown Belt Joined: 21 Dec 2011 Posts: 1509

shashangan · Posted: Wed Nov 07, 2012 11:36 am Post subject:

Thanks Umesh.

Mkt quite strong at the moment. I think Nov Nifty should be heading above 5800 to target 5835+. the immediate support is 5780 & watch it should n't dip below 5770 before reaching the upside targets.

Thanks
Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

shashangan · Posted: Wed Nov 07, 2012 12:29 pm Post subject:

Yes Acharyam, that was the call, Just saw your reply. I wanted buyers to decide the stop. Anyway dont buy if you didnt. since it's already moved above 5800 & it's time to exit. If anybody long book your Nov @ 5808+ for now

Thanks
Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

shashangan · Posted: Wed Nov 07, 2012 12:45 pm Post subject:

Hey Vinst,

Pls check your inbox, sent you a pm.

Thanks
Gautham Shashangan

shashangan · Posted: Wed Nov 07, 2012 1:03 pm Post subject:

Mkt is still up for the moment & will break the high again marginally, but dont think there will be any wild moves on the upside. It will hold near highs for another hour before giving an intra day correction just around 2pm.

Thanks
Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552